MELBOURNE, Florida,
Feb. 22, 2018 /PRNewswire/
-- Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc.
(NASDAQ: NXTD), today announced that it is now accepting pre-orders
for Flip™, a new contactless payment device
that will enable cryptocurrency holders to use the value of their
currency to make purchases at millions of retail locations. The new
device, which was announced earlier this month, uses value
exchanged from cryptocurrency to make traditional payment
transactions. Pre-order Flip at www.FliptoPay.com.
"Flip represents an exciting expansion of the FitPay Payment
Platform by connecting cryptocurrencies to the payment ecosystem,"
said Michael Orlando, COO of NXT-ID
and President of Fit Pay, Inc. "We founded Fit Pay to fundamentally
change the payment experience, and making contactless payments with
cryptocurrency is a big step toward that goal."
Flip's near field communication (NFC) antenna allows it to
transact payments at any retail point of sale location that accepts
contactless payments. Flip will store a preloaded amount of U.S.
dollars that are exchanged from the user's existing cryptocurrency
account. It includes a digital wallet that allows the user to set
how much value they would like their Flip to hold and when they
would like it to reload. Flip does not need to be charged.
Initially, Flip will accept value exchanged from Bitcoin and will
potentially expand to other cryptocurrencies in the future.
"Flip's coin-shaped form factor and distinctive coloring are
definitely attention grabbing," said Orlando. "Early adopters who
are already into Bitcoin, can now pre-order Flip and be among the
first to make a contactless payment with their cryptocurrency."
"NXT-ID's expansion into the cryptocurrency space is a natural
extension of our leading edge fintech capabilities," said
Gino Pereira, CEO of NXT-ID. "In
addition to helping make crypto currencies more usable on a daily
basis we are also pursuing applications for blockchain technology
in our core payment and healthcare businesses. "
Consumers interested in purchasing Flip can pre-order the device
at FliptoPay.com. The retail price for Flip is $29 with standard shipping included. There are
account and exchange fees associated with maintaining a Flip digit
wallet. Initial deliveries expected in the second quarter of 2018.
Customers will only be charged when the product is shipped to them.
Flip is currently only available in the
United States. For more information, visit
FliptoPay.com.
NXT- ID, Inc. and Fit Pay, Inc.
NXT-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform of
technology products and services that enable the Internet of Things
(IoT). With extensive experience in access control, biometric and
behavior-metric identity verification, security and privacy,
encryption and data protection, payments, miniaturization and
sensor technologies, NXT-ID develops and markets groundbreaking
solutions for payment and IoT applications. Its industry-leading
technology products and solutions include MobileBio®, a suite of
biometric solutions that secure consumers' mobile platforms, the
Wocket™, a next-generation smart wallet and the Flye, a digital
credit card developed in collaboration with WorldVentures. NXT-ID
includes three mobile and IoT-related subsidiaries: LogicMark, LLC,
a manufacturer and distributor of non-monitored and monitored
personal emergency response systems ("PERS") sold through
dealers/distributors and the United States Department of Veterans
Affairs; Fit Pay, Inc., a proprietary technology platform that
delivers end-to-end solutions to device manufacturers for
contactless payment capabilities, credential management,
authentication and other secure services within the IoT ecosystem,
and 3D-ID LLC, which is engaged in biometric identification and
authentication. Learn more about NXT-ID at www.nxt-id.com. NXT-ID
Inc. Corporate Contact: info@nxt-id.com. FitPay and the FitPay
Payment Platform are trademarks of Fit Pay, Inc.
Forward-Looking Statements for NXT-ID: This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements reflect management's current expectations, as of the
date of this press release, and involve certain risks and
uncertainties. Forward-looking statements include statements herein
with respect to the successful execution of the Company's business
strategy. The Company's actual results could differ materially from
those anticipated in these forward-looking statements as a result
of various factors. Such risks and uncertainties include, among
other things, our ability to establish and maintain the proprietary
nature of our technology through the patent process, as well as our
ability to possibly license from others patents and patent
applications necessary to develop products; the availability of
financing; the Company's ability to implement its long range
business plan for various applications of its technology; the
Company's ability to enter into agreements with any necessary
marketing and/or distribution partners; the impact of competition,
the obtaining and maintenance of any necessary regulatory
clearances applicable to applications of the Company's technology;
and management of growth and other risks and uncertainties that may
be detailed from time to time in the Company's reports filed with
the Securities and Exchange Commission.
Media
Contacts:
|
Chris
Orlando
chris@fit-pay.com
1.760.468.7273
|
D. Van
Zant
press@nxt-id.com
1.800.665.0411
|
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SOURCE NXT-ID, Inc.